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Welcome to the PsyDO Newsletter!

July 11, 2022

As the PsyDO furthers it’s goal of robust decentralization, we started this newsletter to better communicate updates and actions we’d like support for from $PSY token holders. Expect an update and new proposal from us on the first Monday of every month. The next series of proposals will be issued out on August 1st, 2022.

We ask that you please deposit your PSY tokens for voting, tutorial below.

Our first action is onboarding as many of our early contributors and investors to join our realms governance as a member by locking up your tokens. If you’re not the right contact in regards to governance, please forward to the appropriate point of contact so they can subscribe:https://psy.beehiiv.com/subscribe

Your account displays the number of votes your wallet account holds. You can increase the number of votes by obtaining more $PSY tokens on the open market, and depositing them into your governance account

To deposit your $PSY tokens into your account:

  1. Hold $PSY tokens in a Solana wallet such as Phantom. Connect your wallet in the top right corner.

  2. Click deposit and approve the transaction.

  1. $PSY tokens are transferred from your SOL wallet, and deposited into the governance account for voting.

  2. You can now see the number of votes displayed. If not engaged in an active vote for a proposal, you can withdraw your tokens at any time.

Account View

Click the notification bell in the top right corner of the page next to the wallet connect to set up notifications (email, text, telegram) for proposals, voting and results.

If you’d like to delegate your votes to someone else so they can vote on your behalf -

In line with your account module, click "View", you will be brought to a page that lets you delegate your votes to another wallet to allow voting on your behalf. This does not allow delegated wallets transfer, sell, or withdraw your tokens. Delegated tokens can only create and vote on proposals.

Delegating Tokens

  1. Copy the wallet address you want to delegate your votes to, click "delegate", approve the transaction, and notice that the delegation address appears!

  2. To remove delegation, click the "X" by the wallet address, and approve the transaction.

Delegation is supported out of the box by SPL Governance.

Once you’ve deposited your PSY, or delegated your votes, we will remind you of our monthly votes.

More info -